7402 Charles St · Frederic, MI 49733

$109,900

3 bd · 2.0 ba · 1,248 sqft · SingleFamily public records · 17 Days on market

Built 1975

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.2/30.0
• Appreciation +10.0/10.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Looking for rental income or a place to call home? This home is listed at an affordable price with lots of protentional. Home features 3 bedrooms and 2 baths. Large shed and corner lot. Home does need some updates.

Key facts

• Boiler replaced
• Metal roof
• Corner lot

Tags

• CORNER LOT
• MATURE TREES
• LARGE STORAGE SHED
• BOILER REPLACED
• METAL ROOF
• TRADITIONAL MICHIGAN BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Crawford Ausable Schools (town): math 43% / reading 50% proficiency, ranked #140 of 540 in MI (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 37 active listings in the ZIP; 75 units permitted in Crawford County in 2024 (32 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($760 loan paydown + $11k appreciation (10.0% local appreciation)).
• Crawford County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $40k; list at $110k implies a 175% gain — meaningful room to come down on a strong offer.

Recommended offer $108,251 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.55%
• DSCR: 1.38
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.5%
• Equity multiple: 3.40×
• Total profit: $73,770
• Equity at exit: $99,007

10-year hold

• IRR: 26.4%
• Equity multiple: 7.70×
• Total profit: $206,171
• Equity at exit: $213,512

Cash invested: $30,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 49733

• Home prices YoY: 3.7%
• Active inventory: 37
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,111 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$36 /mo · $432/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $219

Break-even live

Break-even rent $833

Max offer price $109,900

Occupancy floor 75%

Sensitivity live

Price	-10% $281	-5% $250	+0% $219	+5% $188	+10% $157
Rent	-10% $131	-5% $175	+0% $219	+5% $263	+10% $307
Rate	-1.0pp $275	-0.5pp $247	base $219	+0.5pp $191	+1.0pp $162

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-16
   days on market $109,900 Active 17 DOM
2. 2026-06-15
   days on market $109,900 Active 16 DOM
3. 2026-06-13
   days on market $109,900 Active 14 DOM
4. 2026-06-12
   days on market $109,900 Active 13 DOM
5. 2026-06-09
   days on market $109,900 Active 10 DOM
6. 2026-06-08
   days on market $109,900 Active 9 DOM
7. 2026-06-07
   days on market $109,900 Active 8 DOM
8. 2026-06-07
   days on market $109,900 Active 7 DOM
9. 2026-06-04
   days on market $109,900 Active 4 DOM
10. 2026-06-02
    days on market $109,900 Active 3 DOM
11. 2026-06-01
    days on market $109,900 Active 2 DOM
12. 2026-05-31
    remarks 667-char remark
13. 2026-05-31
    listed $109,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $432 · $36/mo
• Projected year-2 tax: $1,062 · $89/mo
• Expected delta: +$630/yr (+$53/mo · 146.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,326
• − Mortgage interest: −$6,156
• − Property taxes: −$432
• − Insurance: −$550
• − Repairs & maintenance: −$1,066
• − Management: −$1,066
• − Depreciation: −$3,197
• Taxable income: $859
• Est. tax owed @ 24.0%: −$206
• After-tax cash flow: $2,424/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Crawford Ausable Schools
• NCES district ID: 2611030
• Math proficiency: 43% ▼ -10.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $40,396
• Composite: 38.94/100
• National rank: #4086
• State rank: #140 of 540 in MI

Livability — Frederic

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,910

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 13,042 people
• By 2030: 12,520 · -4.0%
• By 2040: 11,292 · -13.4%
• By 2050: 10,157 · -22.1%
• By 2075: 8,338 · -36.1%
• By 2100: 6,765 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 8% Lithuanian 5% Iranian 3%
• Foreign-born: 2% · Vietnam, Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Crawford

• 2024 margin: Solid R (+33.8) · D 32.5% · R 66.2% · Other 1.3%
• 2008→2024 swing: -32.1pp toward R · 2008: -1.7pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+30.7 2016: R+32.8 2012: R+11.0 2008: R+1.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.47%
• Current HPI: 291.6348
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+181.8% since first listed

7 events — show timeline

• 2026-05-31 Listed $109,900 FSBO.com
• 2025-01-24 Sold (Public Records) $40,000 Public Records
• 2021-04-13 Sold (Public Records) $48,000 Public Records
• 2021-04-12 Sold (MLS) $48,000 WWMLS
• 2021-03-12 Listed $45,000 WWMLS
• 2017-03-01 Sold (MLS) $39,000 WWMLS
• 2016-08-10 Listed $39,000 WWMLS

Property tax history

-6.7%/yr

Latest (2025): $432 · -54.2% YoY. Source: county tax records.